TRUE Infrastructure Management (TRUE), the Australian-based fund manager providing non-institutional investors access to a portfolio of infrastructure assets previously only available for institutional investment, has signed the United Nations-supported Principles for Responsible Investment (PRI).
The UN-supported PRI is recognised as the leading global network of fund managers, asset owners and service providers working together to put responsible investment into practice. The principles aim to provide a framework for integrating environmental, social and corporate governance (ESG) considerations into investment decision-making and ownership practices.
TRUE utilises a fund-of-fund structure, investing with two of Australia’s leading infrastructure fund managers and their associated funds, Infrastructure Capital Group (ICG) and ATLAS Infrastructure. ICG is a leading manager of unlisted infrastructure assets and one of Australia’s largest renewables investors, with over 575MW of renewable energy generation capacity under management – enough to power 350,000 homes and reduce CO2 emissions by 1.3 MT per annum. ATLAS Infrastructure is a specialist global listed infrastructure manager with exposure to high quality listed infrastructure companies across developed markets.
Peter McGregor, Chief Executive of TRUE Infrastructure Management, commented:
“Responsible investing is fundamental to our long-term outlook in infrastructure funds management, and we are delighted to become signatories of this important global initiative. Investor demand for direct investment access to renewables assets is accelerating and we believe that becoming a PRI signatory is an important commitment to our investor base, and the wider community.”
“We are delighted to welcome TRUE Infrastructure Management to the PRI,” said Fiona Reynolds, CEO of the United Nations-supported Principles for Responsible Investment, “and applaud their recognition of how critical it is to incorporate sustainable investment practices across every asset class. We look forward to working with them.”
Over the past three years, marketers have faced an arduous journey due to the rapid shifts in consumer sentiment and the rising costs associated with their trade. In an era of economic uncertainty, shoppers have been compelled to prioritize value, leading to a trend of downgrading their purchases. In fact, our March 2023 survey revealed that a staggering 80 percent of consumers are modifying their shopping behavior by either adjusting the quantity or pack size of their purchases or opting to switch brands and retailers in search of more affordable options.
Simultaneously, marketing costs have experienced an upward trajectory. According to the insights gathered from our December survey of Chief Marketing Officers (CMOs), the average cost per click witnessed a substantial increase of 20 percentage points in 2022 compared to the previous year.
The investor approach to marketing
During challenging economic times, marketing leaders often respond to cost-cutting directives by implementing uniform reductions across various marketing channels, such as a 10 percent cut from each area. Many believe they can manage such measures by simply spending less. While they may be confident about their ability to achieve savings, they are less assured when it comes to driving growth. According to our December survey, two out of three respondents expressed apprehension about simultaneously reducing spending and outperforming competitors.
However, there is a viable path forward. Instead of solely focusing on substantial and indiscriminate budget cuts, companies can adopt an investor mindset and take a more nuanced approach to their marketing investments. This approach involves identifying areas of overspending and reducing expenses where necessary, while simultaneously allocating additional resources to initiatives that offer greater potential for long-term return on investment (ROI). By eliminating inefficient spending, successful companies can potentially achieve savings ranging from 10 to 20 percent. These savings can then be reinvested in more efficient efforts and targeted campaigns, aiming to drive growth in the range of 5 to 10 percent.
This strategic reallocation of resources can help companies create a significant competitive advantage.
“While it’s tempting to pull back, we believe that companies that double down on growth will not only rebound faster but will also emerge stronger as a result. “
How to get started: A call to action for CMOs
Despite the ongoing economic volatility, the current year presents a pivotal opportunity for marketers to unlock substantial value for their companies, leveraging efficiency gains to drive growth and establish a clear agenda for the future.
In times of uncertainty, it may be tempting for companies to retract and adopt a conservative approach. However, we firmly believe that organizations that choose to double down on growth initiatives will not only recover more swiftly but also emerge from these challenges in a position of strength. These turbulent times serve as a defining moment for Chief Marketing Officers (CMOs) and marketing leaders to direct their focus intensely.
